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Personal finance - JSS3 Business studies Past Questions and Answers - page 1

1
What does personal finance involve?
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A

Managing money for individuals

B

Managing money for businesses

C

Managing money for governments

D

Managing money for charities

2
Where does the primary source of finance for individuals come from?
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A

Investments

B

Savings

C

Income

D

Loans

3
What is the main purpose of savings in personal finance?
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A

 To spend on luxury items

B

To accumulate funds for future use

C

To pay off debt

D

To invest in stocks

4
Which of the following is NOT a type of investment in personal finance?
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A

Stocks

B

Bonds

C

Credit cards

D

Real estate

5
Where can individuals borrow money from?
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A

Family members

B

Banks

C

Only from government programs

D

Only from friends

6
What is an example of government assistance in personal finance?
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A

Retirement accounts

B

Inheritance

C

Social Security

D

Crowdfunding

7
How can individuals supplement their income?
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A

Through part-time jobs

B

Through savings accounts

C

Through government programs only

D

Through charitable donations

8
What is a popular method for raising funds through small contributions from a large number of people?
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A

Loans

B

Crowdfunding

C

Investments

D

Savings

9

What should individuals do to avoid excessive debt when borrowing money?

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A

Borrow as much as possible

B

Borrow from family members only

C

Borrow responsibly

D

Avoid borrowing altogether

10
What is the primary focus of personal finance?
View related lesson
A

Managing money for businesses

B

Managing money for governments

C

Managing money for individuals

D

Managing money for charities